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Markets Open On A Flat Note In Early Trade

By Religare

Indian markets were trading on a flat note during the morning trading session as gains in bank shares helped offset losses in index heavyweights.

Meanwhile, rangebound trend is seen ahead of the rollovers to the May series with expiry of April derivative contracts today.

Markets Open On A Flat Note In Early Trade

Index heavyweights Infosys and ITC were trading with marginal losses. Infosys said it has invested an undisclosed amount in Trifacta, which develops productivity platforms for data analysis, management and manipulation.

At 9:28AM BSE SENSEX was at 26069, up by 4.88 points or by 0.02 per cent while the NSE Nifty was at 7973.3, down by 6.6 points or by 0.08 per cent.

The BSE MIDCAP was at 11147.69, up by 42.85 points or by 0.39 per cent while the BSE SMLCAP was at 11179.64, up by 37.23 points or by 0.33 per cent.

The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 380.50,+1.97 per cent), ICICI Bank Ltd. (Rs. 247.45,+1.08 per cent), Axis Bank Ltd. (Rs. 469.45,+0.85 per cent), State Bank of India (Rs. 198.00,+0.76 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 223.20,+0.70 per cent), among others.

The top losers of the BSE Sensex pack were ITC Ltd. (Rs. 329.15,-1.25 per cent), Maruti Suzuki India Ltd. (Rs. 3826.00,-0.93 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 239.25,-0.62 per cent), Infosys Ltd. (Rs. 1232.50,-0.60 per cent), Hindustan Unilever Ltd. (Rs. 890.70,-0.26 per cent), among others.

The Market breadth, indicating the overall strength of the market, was strong. On BSE, out of total 1277 shares traded, 812 shares advanced, 401 shares declined while 64 were unchanged.

Among the sectoral indices on BSE, BSE Realty index was at 1341.04, up by 22.32 points or by 1.69 per cent led by D B Realty Ltd. (Rs. 48.85,+4.83 per cent), Housing Development & Infrastructure Ltd. (Rs. 85.70,+3.38 per cent), Indiabulls Real Estate Ltd. (Rs. 58.75,+3.34 per cent), Oberoi Realty Ltd. (Rs. 293.70,+2.85 per cent), Godrej Industries Ltd. (Rs. 338.25,+2.28 per cent).


Asian equities came off their early highs and were trading lower with Japanese shares declining the most after the Bank of Japan at its policy meet today lowered the GDP growth forecast to 1.2 per cent compared to 1.5 per cent higher. The central bank kept its monetary policy steady keeping the negative interest rate unchanged. The Nikkei was down 2.5 per cent while Shanghai Composite was down 0.7 per cent. However, Straits Times and Hang Seng were trading flat with positive bias.

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